Deutsche Bank
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Qutoutiao and 111 have launched their respective IPOs on the Nasdaq this week, while Liulishuo has headed to New York for a listing.
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After a drought of new investment grade corporate bonds from the telecom sector, French operator Orange made it two in two days after Telefónica sold a seven year trade on Tuesday. Orange offered a 12 year tranche as well as another seven year offering, but had to leave something on the table to achieve a €2bn print.
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Chinese mobile content aggregator Qutoutiao has hit the play button on its US IPO, targeting $144m from an offering of American Depository Shares (ADS).
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Swiss healthcare company Roche took advantage of upcoming redemptions and a new investor base following its rating upgrade by Moody’s, to raise CHF900m ($922m) from a dual tranche offering.
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Telecom infrastructure firm Circet Odyssee has joined the early September pipeline of deals in the euro leveraged loans market with a small tap. It will fund the buyout of Irish peer KN Group, with parent company Advent planning to merge the companies.
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Lloyds Bank is set to bring the first ever FIG benchmark linked to Sonia on Tuesday, alongside three issuers bringing euro benchmarks and one selling a tap.
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Dutch brewer Heineken took advantage of a quiet market on Monday’s US Labor Day holiday to print a €1.25bn dual tranche deal with new issue premiums some participants saw in single digits.
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Germany’s Cheplapharm Arzneimittel has signed €780m of loans, with the pharmaceutical company using the funds to refinance debt and fund acquisitions.
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Czech company Atrium European Real Estate has hit the market with a deal first roadshowed in June, raising €300m with a seven year.
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Two of the euro corporate bond market’s more frequent issuers helped fully reopen the market with a pair of dual-tranche deals immediately following the UK August bank holiday. The quality of the credits was one of the reasons the market was able to digest €6.65bn of supply on the day.
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There was little in the way of emerging market bond issuance this week to set the tone for the usually busy month of September. Although mBank raised €500m of four year money, CEE-focused Atrium European Real Estate had yet to appear with a deal that had been planned for Thursday.
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Interest among Chinese companies to list in the US continues to remain strong, with personal finance company X Financial and internet firm Viomi setting the stage for their IPOs.